The right finance products will allow your business to flourish. There are two main product areas for business finance: short-term and long-term lending solutions.
Short-Term Products
Business Credit Cards
A business credit card is a credit facility that allows you to pay for goods and services with an interest-free period (usually 45–60 days). The credit is revolving, which means that you can use up to your agreed limit as and when you choose — even if you’ve made payments.
Debtor & Invoice Finance
Debtor finance is a lending facility secured against invoices that have been issued to customers but have not yet been paid. Debtor finance can be a great boost to cash flow (also increasing working capital), helping to cover anything from a new contract, unexpected seasonal demand, and everyday expenses like staff wages and bills.
Line of Credit
A line of credit is a loan with a redraw option. The credit is revolving which means that even though you make repayments, you can re-draw up to your agreed limit as and when you need it. A line of credit can be an excellent boost to both cash flow and working capital.
Overdrafts
An overdraft is a credit facility that is added onto your everyday business account. It allows you to use the bank’s money for the day-to-day running of your business. An overdraft smooths out the ups and downs in your cash flow by providing instant cover for unexpected expenses and larger orders, or to help cover the time between a sale and a payment.
Unsecured Loan
A short-term unsecured loan is a quickly processed business loan where, instead of using your assets, you use your business’s future cash flow as security. A short-term unsecured loan can be a great way to grab those growth opportunities when they come along.
Long-Term Products
Asset & Equipment Finance
Asset finance allows you to break the cost of your new asset into smaller, more manageable repayments over the course of its lifetime. Asset finance is about getting the equipment you need to grow, run and maintain your business without tying up large amounts of your capital and available cash flow.
Commercial Property Loan
Properties come in various shapes and sizes and are categorised into segments, namely residential, commercial, industrial or rural. The nature and manner of lending for commercial property largely depends on the purpose/requirement for funds, and various other factors such as location, the asset itself and the Loan to Value Ratio (LVR).
Standard Secured Bank Loan
A standard bank loan is secured against assets such as vehicles or property. They can be great for raising working capital, purchasing commercial property, expanding, re-financing your business, or anything else you want to invest in.